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Keyword: oil

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  • The Daily Camera’s Fatuous, Failed Backpedal

    04/25/2017 7:54:52 AM PDT · by smashtheleft · 1 replies
    Insurgent Tribe ^ | 4/25/17 | Shawn Mitchell
    Yesterday, Monday, I took the Boulder Daily Camera to task for an indefensible letter it published last Wednesday, April 19 that unambiguously incited violence against oil and gas workers. A day later on the 20th, without retraction or apology, the Camera had modified the letter, but grossly inadequately. The letter still plainly supported violence against person and property. A friend later alerted me that a day before, on Sunday, April 23, the Camera’s editorial editor, Dave Krieger had penned a “full scale mea culpa.” Intrigued, I clicked to the Camera to see what this apology might say, and whether the...
  • Senators Warn Mnuchin of National Security Implications of Russia CITGO Takeover

    04/11/2017 11:46:55 AM PDT · by RightGeek · 16 replies
    PJ Media ^ | 4/11/2017 | Bridget Johnson
    Senators are alarmed about the national security implications of Russia acquiring a significant ownership share in an oil company whose terminals span 20 states across the nation. In a letter to Treasury Secretary Steve Mnuchin, who is chairman of the inter-agency Committee on Foreign Investment in the United States, Sens. Bob Menendez (D-N.J.), Marco Rubio (R-Fla.), John Cornyn (R-Texas), Dick Durbin (D-Ill.), Bill Cassidy (R-La.) and Ted Cruz (R-Texas) say he needs to be prepared to protect U.S. energy infrastructure should Rosneft carry through with seizing control of CITGO Petroleum Corporation’s Venezuelan parent company, state-owned Petroleos de Venezuela S.A. Oil...
  • The richest county in the country has moved far from Washington DC

    04/24/2017 1:00:56 PM PDT · by SeekAndFind · 33 replies
    Hotair ^ | 04/24/2017 | Jazz Shaw
    Where is the richest county in the nation in terms of average gross income? For a long time now if you’d have guessed one of the collar counties around the nation’s capitol you’d have been correct. You’d also likely be forgiven for suggesting one of the bedroom communities around the Big Apple in Connecticut and New York. They’re traditional magnets for money. But according to Time Magazine, the latest figures show that wealth has begun to aggregate somewhere new and it’s far, far to the west. One county in Texas is now at the top of the heap and...
  • Oil slumps as surprise gasoline build raises supply worries

    04/20/2017 10:26:58 AM PDT · by Berlin_Freeper · 36 replies
    cnbc.com ^ | April 19, 2017 | Reuters
    Oil slumped to a two-week low on Wednesday, after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply. U.S. crude futures settled down $1.97 to $50.44 a barrel, a 3.8 percent drop, the worst-one day decline since March 8, as investors bailed out of long positions in response to the bearish inventory figures.
  • ‘Apple of oil’ EOG stays ahead of rivals with fracking 2.0

    04/20/2017 9:30:32 AM PDT · by Ernest_at_the_Beach · 6 replies
    heaustralian.com.au ^ | April 1, 2017 | Erin Ailworth The Wall Street Journal
    Using a proprietary app called ­iSteer, Brian Tapp, a geologist for EOG Resources, dashed off instructions to a drilling rig 160km away. This tool is among the reasons the little-known Midland, Texas, company says it pumps more oil from the continental US than Exxon Mobil, or any other producer.A rig worker received Mr Tapp’s iPhone alert and tweaked the trajectory of a drill bit thousands of feet underground, to land more squarely in a sweet spot of rock filled with West Texas crude.US shale drillers transformed the energy industry over the past decade with hydraulic fracturing and horizontal drilling, in...
  • John McCain: Exxon Is 'Crazy' to Want to Drill for Oil in Russia

    04/20/2017 5:59:46 AM PDT · by Trump20162020 · 33 replies
    Time ^ | Apr 19, 2017 | Aric Jenkins
    Sen. John McCain (R-Ariz.) suggested Exxon Mobil is "crazy" in response to a report that the oil giant is seeking a waiver to resume projects in Russia. "Are they crazy?" McCain tweeted Wednesday with a link to the Wall Street Journal's report.
  • New Mexico assets capture attention of oil and gas giants

    04/19/2017 12:20:32 PM PDT · by CedarDave · 6 replies
    The Albuquerque Journal ^ | April 18, 2017 | Susan Montoya Bryan, AP
    ALBUQUERQUE, N.M. — As New Mexico’s elected leaders wrangle over raising taxes to plug a budget shortfall, major multinational energy companies have quietly spent more than $13 billion in recent months on assets in the state’s oil and gas hot spots. The new wave of investment bodes well for the industry being able to generate much-needed revenues for the struggling state over the long haul, analysts said. The interest from companies such as Texas-based EOG Resources, ExxonMobil and Marathon Oil started last fall and is carrying into this year despite prices remaining around $50 a barrel. New Mexico also led...
  • Reeling From Low Oil Prices, Saudis Look To Freeze Megaprojects

    04/19/2017 9:22:40 AM PDT · by Lorianne · 21 replies
    Oil Price ^ | 17 April 2017 | Irina Slav
    Saudi Arabia will start reviewing a number of multi-billion-dollar infrastructure and development project—remnants from a better past when crude oil prices were in three-digit territory. Some of these, according to government sources, will be shelved and others will be restructured. The review is part of urgent reforms prompted by the oil price rout from 2014, which saw Saudi Arabia plunge into a budget deficit for the first time in its history. As part of efforts to reform the oil-reliant economy, last year Deputy Crown Prince Mohammed bin Salman removed from their positions the Kingdom’s long-serving oil and finance ministers, Ali...
  • 2020s To Be A Decade of Disorder For Oil

    04/17/2017 8:08:09 AM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 17-04-2017 | Nicholas
    The 2020s could be a “decade of disorder” for the oil markets as the lack of drilling today leads to a shortfall of supply. Demand will continue to grow, year after year, and shale will not be able to keep up. It may be hard to envision today, with an oil market suffering from low prices and a glut of supply. Falling breakeven prices have drillers still churning out huge volumes of shale oil, with production in the U.S. already rebounding and rising on a weekly basis. The tidal wave of shale, however, is the direct result of extreme market...
  • Dakota Pipeline Scheduled To Begin Delivering Oil In May

    04/14/2017 8:33:43 AM PDT · by george76 · 9 replies
    The Daily Caller News ^ | 04/14/2017 | Chris White
    Energy Transfer Partners, the developer behind the so-called DAPL, is scheduled to start delivering oil on May 14 to Illinois, according to filings from the Federal Energy Regulatory Commission. The oil project is expected to transport more than 500,000 barrels of oil a year across the eastern section of the country. ... The Obama administration rejected the previously approved pipeline last December ... President Donald Trump eventually issued orders approving the DAPL in January ... many demonstrators have begun diverting their attention to the equally contentious Keystone XL Pipeline, another oil pipeline Trump approved through executive order. Obama originally rejected...
  • 35 U.S. crude flow to Asia props up tanker market damaged by OPEC cuts

    04/09/2017 8:35:08 AM PDT · by Hojczyk · 8 replies
    Energy Mix report ^ | on Apr 8, 2017 | By Editor on Apr 8, 2017
    OPEC all but trashed the tanker market with its output cuts. That the damage hasn’t been even worse is thanks in large part to a flood of U.S. crude exports, particularly to Asia, Bloomberg reports. China zoomed past Canada to become the biggest foreign destination for American crude in February, accounting for more than 8 million barrels of U.S. cargoes. Tanker tracking is indicating no let up in U.S. oil flooding to Asia in March, boosting shipments on what is one of the industry’s longest-distance trade routes. Freight rates for oil collapsed this year after the Organization of Petroleum Exporting...
  • Trump Readies Executive Order To Open The Arctic, Atlantic Oceans To Drilling

    04/07/2017 9:33:39 AM PDT · by rktman · 33 replies
    dailycaller.com ^ | 4/7/2017 | Michael Bastasch
    The Trump administration is developing an order to open new areas to offshore oil and gas drilling, reversing former President Barack Obama’s unilateral decision to lock up most of the Arctic and Atlantic oceans, according to industry sources. Secretary of the Interior Ryan Zinke told industry representatives the new drilling plan would be signed soon, according to Bloomberg. However, he gave few details on what the order could include. The Department of the Interior’s (DOI) new five-year offshore drilling plan could take years to develop and would replace the Obama administration’s five-year plan finalized in November. President Donald Trump promised...
  • Trump prepares to overturn Obama’s limits on offshore oil drilling

    04/08/2017 10:40:28 AM PDT · by 2ndDivisionVet · 15 replies
    The Houma Courier ^ | April 7, 2017 | Juliet Eilperin and Steven Mufson, The Washington Post
    The White House is readying an executive order that aims to open up new areas of the Atlantic and Arctic oceans to offshore oil and gas drilling, according to multiple individuals briefed on the proposal. The White House is considering issuing instructions to the Interior Department to reverse President Barack Obama’s withdrawal of hundreds of millions of offshore acres from future drilling in December 2016. The executive order -- which could come out in the next few weeks -- represents President Donald Trump’s latest attempt to promote domestic energy exploration by rolling back restrictions put in place by previous administrations,...
  • Report: Service companies to ramp-up hiring efforts this year (Oil and gas)

    04/06/2017 3:48:40 PM PDT · by 2ndDivisionVet · 1 replies
    Offshore Magazine ^ | April 6, 2017 | Staff
    OSLO, Norway – Recent research from Rystad Energy shows that oilfield service companies should begin recruiting later this year following the significant workforce reduction in the industry throughout 2014 to 2016. Service companies working within the shale sector are already starting to recruit again, the analyst firm said, after the top four service companies, all of which were exposed to the US land market, were forced to lay off between 30-40% of their workforce. Rystad found that companies exposed to more of the international market have cut more modestly, in the range of 20-30%. “Among the top 50 service companies,...
  • Venezuela's Maduro Wins Power Over Oil Despite Court Reversal

    04/03/2017 9:19:02 AM PDT · by C19fan · 4 replies
    Reuters ^ | April 2, 2017 | Alexandra Ulmer
    The Venezuelan Supreme Court may have amended part of its explosive decision to take over the opposition-led congress, but it still gives embattled leftist President Nicolas Maduro broad new powers over the OPEC nation's vast oil wealth. The reversal on Saturday came after political leaders worldwide and street protesters at home accused the pro-government court of effectively making Maduro a dictator.
  • Green groups promise guerrilla warfare tactics to stop Keystone pipeline

    03/27/2017 9:25:47 AM PDT · by rktman · 28 replies
    washingtontimes.com ^ | 3/26/2017 | Ben Wolfgang
    Environmental activists vowed over the weekend to fight the Keystone XL oil pipeline to the bitter end, insisting the Trump administration’s approval of the long-delayed project will not be the final word. Powerful green groups are launching a two-pronged strategy to block the pipeline in the streets and in the courts. First, they intend to use a state review process in Nebraska — where Keystone still does not have a legal route, despite federal approval of the project — to delay any movement forward. Nebraska state officials charged with approving the pipeline’s path say a decision shouldn’t be expected until...
  • Saudis Bet Big On Houston As Drilling Activity Picks Up

    03/22/2017 2:57:01 PM PDT · by bananaman22
    Oilprice.com ^ | 22-03-2017 | PARA
    A Saudi logistics company has just opened a Houston office to seize the opportunity to ship increased volumes of oilfield and plant construction equipment to the Port of Houston as the Texas and U.S. drilling activity is gaining momentum. Bahri Logistics – which had opened its U.S. headquarters in Baltimore back in 1992 – is now opening an office in Houston to take advantage of expected higher demand for oilfield equipment, called breakbulk cargo in the shipping industry: these are large items that need to be loaded and shipped individually rather than in containers. Bahri, or the National Shipping Company...
  • Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts

    03/20/2017 4:19:48 PM PDT · by artichokegrower · 14 replies
    gCaptain ^ | March 20, 2017 | Mark Shenk
    Oil fell as a U.S. drilling revival undermines the potential for OPEC output curbs to rebalance the market. Futures dropped as much as 1.9 percent in New York. Saudi Arabian Energy Minister Khalid Al-Falih said on March 16 that the kingdom may extend its cuts if supplies stay above the five-year average. A day later, though, data showed the U.S. rig count growing for a ninth week, and a Libya official said Sunday that the Es Sider and Ras Lanuf ports are preparing to restart oil exports.
  • Remember When Maxine Waters Said She Wanted to "Socialize" and "Take Over" All Oil Companies?

    03/20/2017 8:14:33 AM PDT · by ReformedMedia · 27 replies
    The Washington Standard ^ | 03-20-2017 | Tim Brown
    Socialist Democrat Representative Maxine Waters (D-CA) has become the poster child for liberal stupidity in her continued crusade to impeach Donald Trump without a shred of evidence, except her feelings.  While many have called Trump and his supporters Nazis, which were National Socialists, let me remind you that Waters is the one that has claimed to be a Socialist and said she would love to "take over" all oil companies. A slip of the tongue revealed the true intentions of Maxine Waters during a house hearing in 2008 grilling oil executives including John Hofmeister, President of Shell Oil Company. Waters referred...
  • Largest U.S. onshore oil discovery in 30 years announced: 1.2B barrels in Alaska

    03/16/2017 5:12:19 PM PDT · by Brad from Tennessee · 31 replies
    Washington Times ^ | March 10, 2017 | By Douglas Ernst
    Energy giant Repsol has found the largest onshore U.S. oil find in 30 years. Oil exploration that started in 2008 has paid off for Spanish oil company Repsol and its U.S. partner, Armstrong Energy. Roughly 1.2 billion barrels of light crude are available in Alaska’s North Slope and ready to come up in 2021. “The successive [exploration] campaigns in the area have added significant new potential to what was previously viewed as a mature basin,” the company said in a statement posted to its website on Friday. “Additionally Alaska has significant infrastructure which allows new resources to be developed more...